Stoxx 600, FTSE, DAX, CAC

Stocks are broadly on the rise 20 minutes into today’s trading session, with the pan-European Stoxx 600 index last seen around 0.2% higher.

The regional Stoxx Travel & Leisure index is leading gains on a rise of 1.6%.

France’s CAC 40 index, up 0.3%, is leading gains among Europe’s major bourses, while London’s FTSE 100 is down 0.3%.

— Chloe Taylor

The chief executive of Spain’s Deoleo, the world’s largest olive oil producer, says a bumper harvest and improving market sentiment show that the industry is recovering from one of its toughest moments ever.

A substantial olive harvest, notably in Spain, has helped to restore confidence in the sector and led to a pronounced fall in prices for both extra virgin and virgin olive oils in supermarkets.

It comes after two consecutive seasons of poor yields resulted in a period of extraordinary turbulence throughout the olive oil value chain.

Read the full story here.

— Sam Meredith

Danish shipping giant Maersk on Thursday posted stronger-than-expected second-quarter operating profit, citing continued focus on operational improvements despite unprecedented geopolitical volatility.

The company, widely considered a barometer of global trade, reported preliminary underlying earnings before interest, tax, depreciation and amortization (EBITDA) of $2.3 billion for the June quarter.

That’s up around 7% from $2.14 billion over the same period a year ago and above the $1.97 billion expected by analysts in an LSEG poll.

Read more from CNBC’s Sam Meredith here.

U.S. President Donald Trump’s so-called “reciprocal” tariffs took effect on Thursday, imposing higher duties on many of the country’s trading partners’ exports to the U.S.

“IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” Trump wrote on social media platform Truth Social.

Read more here.

— Sophie Kiderlin

Roland Busch, CEO of Siemens, told CNBC’s “Squawk Box Europe” this morning that he expects a pick-up in investment now that the European Union had reached a trade deal with the United States.

“Due to these tariff discussions, nobody started investing. So we needed certainty, and with the latest deal … between the United States and Europe, we have now certainty, which we believe will then trigger investments going forward,” he said.

However, Busch labeled the impact of tariffs on the business this year “minor,” and insisted Siemens was well positioned to withstand the impact of U.S. tariffs, which now stand at a blanket 15% rate on EU goods.

“The local-for-local content in the United States is 85-plus-percent,” he said. “We invested also in our manufacturing sites, for example, for smart infrastructure, for electrification, we doubled our capacity there.”

Siemens had also assessed its supply chains and pricing, he added, and had contracts in place that allowed it to adapt according to tariffs.

“So this is the bag we have at Siemens, which makes us more resilient than maybe others,” Busch added.

Siemens confirmed its full-year outlook on Thursday morning, with the firm posting a 28% annual rise in third-quarter orders on a comparable basis.

Quarterly revenue jumped 5% from the previous year to reach 19.4 billion euros ($22.6 billion). Analysts had been expecting revenue to hit 19.3 billion euros in the quarter, according to LSEG data.

The company’s key profit indicator for its industrials business, however, fell 7% year on year.

— Emilia Hardie, Chloe Taylor

Good morning from London, and welcome to CNBC’s live blog covering all the action and business news in European financial markets on Thursday.

Futures data from IG suggests a broadly positive open for European indexes, with London’s FTSE 100 seen opening flat, France’s CAC 40 up 0.13% and Germany’s DAX up 0.3%, and Italy’s FTSE MIB 0.33% higher.

Global markets continue to keep an eye on the tariff landscape this week after U.S. President Donald Trump on Wednesday implemented an additional 25% tariff on India, days after he already imposed a 25% levy on the country.

“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” Trump said in an executive order.

India said it is “extremely unfortunate that the U.S. should choose to impose additional tariffs … for actions that several other countries are also taking in their own national interest,” according to a statement, adding that its imports are based on “market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.”

The president also signaled on Tuesday that he will announce new tariffs on semiconductors and chips as soon as next week.

It’s another busy day of earnings Thursday, with Siemens, Deutsche Telekom, Allianz, Zurich Insurance, Merck, Moeller Maersk, Swisscom, Henkel, Rheinmetall and Uniper all due to report. Data releases include French and German trade balances.

The Bank of England will be publishing its latest monetary policy decision, with the central bank expected to cut interest rates from 4.25% to 4%.

— Holly Ellyatt